Benefits Of Declaring Bankruptcy

17 Feb 2015 by Debt Free Pty Ltd in Welcome

For most people, the mere idea of declaring bankruptcy is enough to send shivers down their spines. Most debtors will choose to prolong their financial stress and suffering in order to avoid the sheer ‘embarrassment’ of being bankrupt.

Get Debt Free wants to rid bankruptcy of its negative connotations and stigmatization by outlining the many benefits it actually offers.

  1. No more stress!

After declaring voluntary bankruptcy, you will feel as if a massive weight has been lifted off your shoulders. No more harassing calls from creditors. No more sleepless nights. No more financial stress. You are finally free to start afresh! And bankruptcy doesn’t last a lifetime; in most cases, you will be bankrupt for no more than three years.

  1. Protected Assets

Although some substantial assets may be sold, many of your belongings will be protected, including household furniture, clothing, a motor vehicle, and superannuation payments that have not been accessed prior to your bankruptcy.

  1. Ability to Travel

Being bankrupt is no reason to be house-ridden. You are still free to travel throughout Australia, and can travel overseas as long as permission is granted from your trustee.

Get Debt Free understands bankruptcy is not an easy decision, and for that reason we recommend you call us first on our toll free phone line to discuss your situation and see if bankruptcy is the right option for you.

To become bankrupt, you will need to complete the necessary forms and lodge them with AFSA. These forms can be obtained from AFSA free of charge – you should never be charged to obtain them! If you need help with the forms, we are happy to provide a personal service and assist you with completing the forms for the lowest fee in the industry.

Contact us now on 1800 98 10 70 for free and confidential bankruptcy advice!